Saving for kids education

M

micconn

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Does anyone have advice on the best saving plan to set up for kids eduacation? Insurance policies etc?
 
Re: Saving for kids eduacation

A few questions ...

Just to confirm, I assume you are looking to get the maximum return from your savings and you are not after a childrens savings accounts?

Do you have a lump sum to put into the account?

How much will you be saving per month?

How long will you be saving for?
 
Re: Saving for kids eduacation

I was thinking about puting my sons childrens allowance into prize bonds through direct debit each month as a safe savings option (& maybe a chance of striking the jackpot now that they have a new €1 million draw each month).

Anyone any opinions....
 
Re: Saving for kids eduacation

Personally, I would avoid prize bonds and opt for a low charging index fund like those offered by Quinn or Rabodirect. There is risk involved but you have a much better chance of making a decent return over the long haul. Switch to safer investments the closer your child gets to needing the money for college etc.
 
Re: Saving for kids eduacation

NHG said:
I was thinking about puting my sons childrens allowance into prize bonds through direct debit each month as a safe savings option (& maybe a chance of striking the jackpot now that they have a new €1 million draw each month).

Anyone any opinions....
Click to expand...

I would also avoid prize bonds.

I would go with a high interest deposit account like Irish Nationwide @3.75%.
 
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